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Tesla has increased prices for all models in the US, with some rising by almost R100,000

Business Insider US
(Photo by Smith Collection/Gado/Getty Images).
(Photo by Smith Collection/Gado/Getty Images).
  • Tesla has increased the price of all its cars in the US amid supply chain issues.
  • The automaker has raised the price of its cars several times in 2022.
  • Its price hikes come amid wider concerns about how economic issues will impact the company.
  • For more stories go to www.BusinessInsider.co.za.

Tesla has increased the price of its cars in the US amid ongoing supply chain issues.

The company's website previously showed the price of the Model X as $114,990 (R1.84 million) and currently shows a price of $120,990 (R1.93 million), representing a rise of $6,000 (R96,000). The Model Y long-range increased from $62,990 (R1 million) to $65,990 (R1.05 million), according to Tesla's website. 

The company raised the price of its cars several times in 2022, hiking the price of its cheapest car by $10,000 (R160,000) over the last year.

The most recent price hikes come amid wider concerns over how the company is being impacted by economic issues.

Earlier this month, Tesla CEO Elon Musk told Tesla executives via email he had a "super bad feeling" about the economy and wanted to cut 10% of the company's salaried staff.

Insider reported on Wednesday that these layoffs had already begun across the company's workforce.

Tesla has also delayed delivery of some of its long-range vehicles by up to a month in the US, according to Reuters. The company has been struggling with the supply of computer chips and the rising price of raw materials in the last year.

The company has also faced challenges in its global production due to China's strict zero-Covid policy. Tesla's Shanghai Gigafactory, responsible for half of Tesla's global production in 2021, was forced to close for three weeks in March 2022 due to rising Covid-19 cases.

Insider previously reported that Tesla delivered a record number of vehicles in the first quarter of 2022, despite these challenges.

Elon Musk tweeted in April: "This was an *exceptionally* difficult quarter due to supply chain interruptions & China zero Covid policy." Adding that "key suppliers saved the day." 


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